US stainless sheet prices surge in volatile market

Stainless steel sheet prices in the United States have surged to levels last seen more than a decade ago due to an increase in mill base prices and rising surcharges.

Buyers unable to secure sufficient metal on allocation reported that prices for metal from non-mill sources had risen sharply, widening the spread over fob mill prices. Fastmarkets’ monthly assessment for stainless steel 304 cold-rolled sheet, fob mill US was $179 per hundredweight ($3,580 short per ton) on Tuesday August 10, up 4.23% from $171.75 per cwt on July 12, and up 6.39% from $168.25 per cwt on June 10. This is the highest price since it was $193.75 per cwt on June 3, 2011. The assessment for stainless steel 304L cold-rolled sheet, fob mill US was $181 per cwt ($3,620 per ton) on August 10, up 4.17% from $173.75 per cwt ($3,475 per ton) on July 12, and up 6.31% from $170.25 on June 10. This is the highest assessment since it was $181 per cwt on July 7, 2011. Fastmarkets' assessment for stainless steel 316L cold-rolled sheet, fob mill US rose to $245 per...

Published

Robert England

August 11, 2021

21:50 GMT

New York